Sears Synopsis

Synopsis: Sears In 2004, Kmart announced the partnership was buying Sears Roebuck and Co, creating the third-largest retailer in the country behind Wal-Mart and Home Depot. Sears has had a real different problem from Kmart, express Sears Chairman Alan Lacy. Our services and products atomic number 18 as good as our competitors and they are not where our clients are This gives us the opportunity to grow off-mall locations closer to the customer (CNN M maviny 2004). While each store would continue to be maintained separately; as part of Lacys plan, the new company, Sears Holdings planned to covert several hundred Kmarts to Sears. Founded in Detroit in 1899, as S.S. Kresge, Kmart was known for home accessories and its strong uniform sales. Sears began in 1886 as it sold watches though catalogs. However, throughout the years, the company became best known for its artisan tools and Kenmore appliances. For customers, the deal would be a win- win situation. Imagine going into Kmart and buying a Sears Craftsman toolset, or buying Kmarts Martha Stewart home products at Sears, said Marshal Cohen, chief retail analyst with market investigate firm NPD Group. To Kmart shoppers, Lands End may not mean anything, but it will now (CNN Money 2004).

Kmart Chairman Edward Lampert added, We dont extremity two separate cultures but to blend it into one great culture The idea is to make the stores more warring while staying focused on the customer (CNN Money 2004). In 2005, sixty nine percent of Kmart shareholders voted to approve the $12.3 billion dollar acquisition; however, many retired Sears employees complained and feared the department store companys assets would be sold off to raise cash. In response, Lampert prefer to focus on the companys retail prospects, stating; its an opportunity to transform two companies that once were great-to transform them into a great company relative to the 21st century (USA straightaway 2005). Lacy added The market in general has strongly supported... If you want to get a full essay, order it on our website: Orderessay

Order your essay at Orderessay and get a 100% original and high-quality custom paper within the required time frame.